Effects of Unanticipated Inflation on Common Stock Returns PDF Download

Author: Josef Lakonishok
Publisher:
ISBN:
Category : Dividends
Languages : en
Pages : 402

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Author: Peter J. N. Sinclair
Publisher: Routledge
ISBN: 1135179778
Category : Business & Economics
Languages : en
Pages : 402

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Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.

Author: Martin Feldstein
Publisher: Chicago : University of Chicago Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 320

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Inflation, Tax Rules, and Capital Formation brings together fourteen papers that show the importance of the interaction between tax rules and monetary policy. Based on theoretical and empirical research, these papers emphasize the importance of including explicit specifications of the tax system in such study.

Author: John H. Cochrane
Publisher: Now Publishers Inc
ISBN: 1933019158
Category : Business & Economics
Languages : en
Pages : 117

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Financial Markets and the Real Economy reviews the current academic literature on the macroeconomics of finance.

Author: Seungho Jung
Publisher: International Monetary Fund
ISBN: 1557759677
Category : Business & Economics
Languages : en
Pages : 36

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We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable geopolitical swings that originate from North Korea. To do so, a monthly index of geopolitical risk from North Korea (the GPRNK index) is constructed using automated keyword searches in South Korean media. The GPRNK index, designed to capture both upside and downside risk, corroborates that geopolitical risk sharply increases with the occurrence of nuclear tests, missile launches, or military confrontations, and decreases significantly around the times of summit meetings or multilateral talks. Using firm-level data, we find that heightened geopolitical risk reduces stock returns, and that the reductions in stock returns are greater especially for large firms, firms with a higher share of domestic investors, and for firms with a higher ratio of fixed assets to total assets. These results suggest that international portfolio diversification and investment irreversibility are important channels through which geopolitical risk affects stock returns.

Author: David C. Colander
Publisher: Routledge
ISBN: 1317458303
Category : Business & Economics
Languages : en
Pages : 233

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Offering an introduction to the Japanese political system, this book covers the end of the Koizumi era, the brief and troubled premiership of Abe, and the selection of Fukuda as prime minister. It includes material on "bubble" and "post-bubble" economic developments, as well as coverage of health care policy.

Author: Milton Friedman
Publisher:
ISBN:
Category :
Languages : en
Pages : 265

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Author: Lorenzo Peccati
Publisher: Springer Science & Business Media
ISBN: 3642867065
Category : Business & Economics
Languages : en
Pages : 374

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Many models in this volume can be used in solving portfolio problems, in assessing forecasts, in understanding the possible effects of shocks and disturbances.

Author: Mark P. Kritzman
Publisher: John Wiley & Sons
ISBN: 047147343X
Category : Business & Economics
Languages : en
Pages : 274

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Book Description
Financial professionals are faced with increasingly technical topics that are theoretically complicated but practically necessary in determining the trade-off between risk and return. The Portable Financial Analyst, Second Edition is a unique collection of essays that address the heart of every analyst's and investor's dilemma: how to make decisions in the face of unknown forces and how to assert some control over the outcome

Author: Erdinç Altay
Publisher:
ISBN: 9783860106921
Category :
Languages : en
Pages : 36

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